Equipment acquired on January 8 at a cost of $101,130 has an estimated useful life of 13 years, has an estimated residual value of $10,000, and is depreciated by the straight-line method.

a. What was the book value of the equipment at December 31 the end of the fourth year? $

b. Assume that the equipment was sold on April 1 of the fifth year for $65,197.

1. Journalize the entry to record depreciation for the three months until the sale date. If an amount box does not require an entry, leave it blank. Round your answers to the nearest whole dollar if required.

	Depreciation Expense-Equipment
	Accumulated Depreciation-Equipment

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2. Journalize the entry to record the sale of the equipment. If an amount box does not require an entry, leave it blank. Do not round intermediate calculations.

	Cash
	Accumulated Depreciation-Equipment
	Loss on Sale of Equipment
	Equipment